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Padder Guarantor + Padder Deposit: Lower your upfront move-in cost

The big idea

If you need Padder Guarantor to help you qualify for a lease, you may still be asked to pay your landlord’s standard first and last month’s rent up front — in addition to your Padder Guarantor premium.

If your building also accepts Padder Deposit, you may be able to replace the traditional Last Month’s Rent (LMR) deposit with a smaller one-time premium. That can significantly reduce what you need to pay at move-in.

Important: Padder is always optional. Your landlord can’t require Padder as a condition of tenancy.

Scenario 1: No Padder (standard first + last)

Most landlords require first and last month’s rent to secure a lease.

If monthly rent is $2,000, you typically pay:

  • $2,000 first month to the landlord

  • $2,000 last month deposit to the landlord

Total upfront: $4,000 (other deposits/fees not included)


Scenario 2: Padder Guarantor only

Padder Guarantor helps your landlord feel comfortable approving your application. But many landlords will still require first + last month’s rent under their standard process.

If monthly rent is $2,000, you may pay:

  • $4,000 to the landlord (first + last), plus

  • Padder Guarantor premium: typically 30%–130% of one month’s base rent

    • For $2,000 rent: $600–$2,600

Total upfront estimate: $4,600–$6,600

This is the reality check: for some renters, Guarantor-only can make approval possible — but the combined upfront cost can still be hard to swing.

Some landlords may choose to offer their own benefit or assistance to reduce tenant move-in costs, but that is always at the landlord’s discretion and is never guaranteed.

Scenario 3: Padder Guarantor + Padder Deposit (where accepted)

If your landlord accepts Padder Deposit, you don’t pay a traditional Last Month’s Rent deposit to the landlord.

Instead, you pay:

  • First month rent to the landlord: $2,000

  • Padder Guarantor premium: $600–$2,600 (typical for $2,000 rent)

  • Padder Deposit premium: typically 10%–15% of one month’s base rent

    • For $2,000 rent: $200–$300

Total upfront estimate: $2,800–$4,900

That means you’re replacing a $2,000 last month deposit with a $200–$300 premium — a reduction of roughly $1,700–$1,800 upfront in this example.

Quick comparison (using $2,000/month rent)

  • First + last to landlord (no Padder):
    $4,000

  • First + last ($4,000) + Guarantor ($600–$2,600):
    $4,600–$6,600

  • First to landlord ($2,000) + Guarantor ($600–$2,600) + Deposit ($200–$300):
    $2,800–$4,900

What this does (and doesn’t) change

  • You still pay rent monthly as normal. Padder doesn’t replace rent.

  • Padder Deposit doesn’t pay your last month automatically. It protects your landlord if you move out without paying your last month’s base rent.

  • If Padder pays a claim, you may owe Padder back under your indemnity agreement (just like you’d still owe unpaid rent in a normal tenancy).

How to know if you can bundle Guarantor + Deposit

You can only add Padder Deposit if your landlord/building accepts it.

  • If you’re applying for Padder Guarantor in a building that accepts Deposit, you’ll typically be considered for Deposit as part of the same flow.

  • If you’re not sure, ask your leasing team or start with Paddie (Ai Chatbot) in the Padder Help Centre.

Help Centre: Padder Guarantor vs. Padder Deposit
Help Centre: How to apply for Padder Deposit